Civic Intelligence

Southwestern Exposition and Livestock Show

EIN 75-0575065 • 501(c)3 • Fort Worth, TX

Profile

The corporation is organized and is to be operated exclusively for charitable, scientific and educational purposes. The corporation is organized to hold agricultural fairs and encourage agricultural pursuits. Particularly, the corporation is organized and operated to encourage and promote the breeding, raising and marketing of better cattle, swine, sheep, horses, mules, poultry and other livestock and farm products by the exhibition of said stock and farm products at public fairs, and may promote and maintain research and educational endeavors in connection with the livestock industry. The corporation is additionally formed to encourage, instruct, and promote the education of youths in fort worth, tarrant county, texas, and its surrounding areas.

PO Box 150Fort Worth, TX 76101

www.fwssr.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.53x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

74th percentile

0.92x

Higher debt load relative to revenue than 74% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

5th percentile

-43%

Higher net margin than 5% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

81st percentile

$712,254

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

49th percentile

5.6%

Faster asset growth than 49% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

62nd percentile

14%

Faster revenue growth than 62% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$58,906,892

Up $3,099,815 (+5.6%) from 2024

Liabilities

Up

$31,124,174

Up $16,409,114 (+112%) from 2024

Net Assets

Down

$27,782,718

Down $13,309,299 (-32%) from 2024

Revenue

Up

$33,962,621

Up $4,181,441 (+14%) from 2024

Expenses

Up

$48,557,042

Up $20,830,026 (+75%) from 2024

Net Income

Down

-$14,594,421

Down $16,648,585 (-810%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2011: $19,642,057Liabilities 2011: $2,799,691Net Assets 2011: $16,842,3662011Assets 2012: $21,123,282Liabilities 2012: $3,028,218Net Assets 2012: $18,095,0642012Assets 2013: $22,918,147Liabilities 2013: $3,037,483Net Assets 2013: $19,880,6642013Assets 2014: $25,779,546Liabilities 2014: $2,141,661Net Assets 2014: $23,637,8852014Assets 2015: $25,901,267Liabilities 2015: $7,355,085Net Assets 2015: $18,546,1822015Assets 2016: $26,554,885Liabilities 2016: $8,388,728Net Assets 2016: $18,166,1572016Assets 2017: $28,567,701Liabilities 2017: $7,203,678Net Assets 2017: $21,364,0232017Assets 2018: $31,415,737Liabilities 2018: $15,718,803Net Assets 2018: $15,696,9342018Assets 2019: $33,089,276Liabilities 2019: $15,173,050Net Assets 2019: $17,916,2262019Assets 2020: $32,708,892Liabilities 2020: $16,823,610Net Assets 2020: $15,885,2822020Assets 2021: $38,990,729Liabilities 2021: $13,595,505Net Assets 2021: $25,395,2242021Assets 2022: $42,680,623Liabilities 2022: $11,688,853Net Assets 2022: $30,991,7702022Assets 2023: $46,596,851Liabilities 2023: $15,017,662Net Assets 2023: $31,579,1892023Assets 2024: $55,807,077Liabilities 2024: $14,715,060Net Assets 2024: $41,092,0172024Assets 2025: $58,906,892Liabilities 2025: $31,124,174Net Assets 2025: $27,782,7182025

Highlighted filing

2025

Assets$58,906,892
Liabilities$31,124,174
Net Assets$27,782,718

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20MExpenses 2011: $14,507,2222011Expenses 2012: $15,083,3382012Expenses 2013: $15,944,4132013Revenue 2014: $18,305,713Expenses 2014: $16,850,624Net Income 2014: $1,455,0892014Revenue 2015: $20,027,531Expenses 2015: $24,736,706Net Income 2015: -$4,709,1752015Revenue 2016: $20,535,733Expenses 2016: $18,971,812Net Income 2016: $1,563,9212016Revenue 2017: $19,972,473Expenses 2017: $19,494,791Net Income 2017: $477,6822017Revenue 2018: $21,517,422Expenses 2018: $28,657,253Net Income 2018: -$7,139,8312018Revenue 2019: $22,624,417Expenses 2019: $20,841,969Net Income 2019: $1,782,4482019Revenue 2020: $31,250,005Expenses 2020: $29,456,583Net Income 2020: $1,793,4222020Revenue 2021: $4,419,254Expenses 2021: $6,639,153Net Income 2021: -$2,219,8992021Revenue 2022: $26,254,515Expenses 2022: $23,213,333Net Income 2022: $3,041,1822022Revenue 2023: $29,568,276Expenses 2023: $26,448,565Net Income 2023: $3,119,7112023Revenue 2024: $29,781,180Expenses 2024: $27,727,016Net Income 2024: $2,054,1642024Revenue 2025: $33,962,621Expenses 2025: $48,557,042Net Income 2025: -$14,594,4212025

Highlighted filing

2025

Revenue$33,962,621
Expenses$48,557,042
Net Income-$14,594,421

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.9$31.1$27.8$34.0$48.6$14.6
2024Summary only. Only limited summary data is available for this year.$55.8$14.7$41.1$29.8$27.7$2.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$46.6$15.0$31.6$29.6$26.4$3.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.7$11.7$31.0$26.3$23.2$3.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.0$13.6$25.4$4.42$6.64$2.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.7$16.8$15.9$31.3$29.5$1.79
2019Summary only. Only limited summary data is available for this year.$33.1$15.2$17.9$22.6$20.8$1.78
2018Summary only. Only limited summary data is available for this year.$31.4$15.7$15.7$21.5$28.7$7.14
2017Summary only. Only limited summary data is available for this year.$28.6$7.20$21.4$20.0$19.5$0.48
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.6$8.39$18.2$20.5$19.0$1.56
2015Detailed filing. Detailed filing data is available for this year.$25.9$7.36$18.5$20.0$24.7$4.71
2014Detailed filing. Detailed filing data is available for this year.$25.8$2.14$23.6$18.3$16.9$1.46
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.9$3.04$19.9$15.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.1$3.03$18.1$15.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.6$2.80$16.8$14.5
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Dec 8, 2025
Return Version
2024v5.2
Gross Receipts
$38,158,984
Mission and Program Overview

Mission

The corporation is organized and is to be operated exclusively for charitable, scientific and educational purposes. The corporation is organized to hold agricultural fairs and encourage agricultural pursuits. Particularly, the corporation is organized and operated to encourage and promote the breeding, raising and marketing of better cattle, swine, sheep, horses, mules, poultry and other livestock and farm products by the exhibition of said stock and farm products at public fairs, and may promote and maintain research and educational endeavors in connection with the livestock industry. The corporation is additionally formed to encourage, instruct, and promote the education of youths in fort worth, tarrant county, texas, and its surrounding areas.

See schedule o.the corporation is organized and is to be operated exclusively for charitable, scientific and educational purposes. The corporation is organized to hold agricultural fairs and encourage agricultural pursuits. Particularly, the corporation is organized and operated to encourage and promote the breeding, raising and marketing of better cattle, swine, sheep, horses, mules, poultry and other livestock and farm products by the exhibition of said stock and farm products at public fairs, and may promote and maintain research and educational endeavors in connection with the livestock industry. The corporation is additionally formed to encourage, instruct, and promote the education of youths in fort worth, tarrant county, texas, and its surrounding areas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$45,253,519$48,110,348▲ $2,856,829
Intangible Assets$3,780,589$3,194,341▼ $586,248
Accounts Receivable$1,567,954$2,113,897▲ $545,943
Land, Buildings, and Equipment, Net$962,021$951,861▼ $10,160
Investments Other Securities$321,277$321,219▼ $58
Cash and Non-Interest-Bearing Accounts$140,328$73,736▼ $66,592
Prepaid Expenses and Deferred Charges$38,420$57,040▲ $18,620
Savings and Temporary Cash Investments$5,943$8,843▲ $2,900
Total Assets$55,807,077$58,906,892▲ $3,099,815
Other Assets Total$3,737,026$4,075,607▲ $338,581
Liabilities
Grants Payable$10,461,319$27,763,473▲ $17,302,154
Other Liabilities$3,727,906$3,211,005▼ $516,901
Accounts Payable and Accrued Expenses$399,290$95,010▼ $304,280
Deferred Revenue$126,545$54,686▼ $71,859
Total Liabilities$14,715,060$31,124,174▲ $16,409,114
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$36,689,590$22,735,654▼ $13,953,936
Net Assets With Donor Restrictions$4,402,427$5,047,064▲ $644,637
Total Net Assets Fund Balance$41,092,017$27,782,718▼ $13,309,299
Total Liabilities and Net Assets / Fund Balance$55,807,077$58,906,892▲ $3,099,815

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$413,059$2,014,803$2,427,862
Leasehold Improvements$521,981$399,311$921,292
Other Land Buildings$16,821$208,374$225,195
Other Assets Org$78,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bradford S BarnesPresidentFT$418,982$293,272$712,254
Matthew CarterSenior Executive Vice President/general ManagerFT$425,309$22,746$448,055
Matthew CarterSenior Executive Vice President/gene-$375,309$72,746$448,055
Kimberly DewoodyFinance DirectorFT$240,267$40,378$280,645
Bruce MccartyExecutive Vice PresidentFT$226,822$41,122$267,944
Lauren MurrayDepartment ManagerFT$143,917$31,333$175,250
Stefan MarchmanDepartment ManagerFT$137,672$27,384$165,056
David BrockmanDepartment ManagerFT$134,467$30,299$164,766
Jessica BirgeDepartment ManagerFT$131,355$30,365$161,720
Douglas WhiteDepartment ManagerFT$130,390$30,279$160,669
Karen MaynardAccounting AssistantFT$117,787$15,094$132,881
April JordanSenior AccountantFT$115,500$1,088$116,588
Stormy MullinsDirector-$6,469-$6,469
Darren HenkenDirector-$6,400-$6,400
Dannie J Bruce JrDirector-$3,080-$3,080
Robert HerodDirector-$2,844-$2,844
Mat GallitonDirector-$1,980-$1,980
Gary RosenbuschDirector-$1,400-$1,400
Kent LynchDirector-$1,304-$1,304
Allen CrumleyDirector-$1,150-$1,150
Charlie Royer IiiDirector-$1,150-$1,150
Gilbert Gamez IiiDirector-$1,150-$1,150
Kacey CorneliusDirector-$1,150-$1,150
Martin RichterDirector-$1,150-$1,150
Paxton MotheralDirector-$1,150-$1,150
Sherman JonesDirector-$1,150-$1,150
Theo ThompsonDirector-$1,150-$1,150
Trent PrimDirector-$1,150-$1,150
Kelly LynchDirector-$1,045-$1,045
Pam MinickDirector-$1,000-$1,000
Mary Beth MillettDirector-$900-$900
Von R BoxDirector-$900-$900
Pat HamiltonDirector-$700-$700
Bailey McguireDirector-$600-$600
Carol FaulkenberryDirector-$550-$550
Chris HarrisonDirector-$500-$500
Gavin MassingillDirector-$500-$500
John L LewisDirector-$500-$500
Philip L SchuttsDirector-$500-$500
Randy UpshawDirector-$500-$500
Brandon WoodwardDirector-$400-$400
Eddie Sandoval IiiDirector-$400-$400
Joe BrhlikDirector-$400-$400
Michael B HarrisonDirector-$400-$400
Michael D WarnerDirector-$400-$400
Mike SandsDirector-$400-$400
Todd TippettDirector-$400-$400
Warren E MayberryDirector-$400-$400
Roland K JohnsonDirector-$350-$350
Cb Team IvDirector-$300-$300
John MenziesDirector-$300-$300
Mark LansfordDirector-$300-$300
R Mike LansfordDirector-$300-$300
F D Quinn IiiDirector-$250-$250
Kelly RileyDirector-$250-$250
Wilson MartinDirector-$240-$240
Julie Porter MayfieldDirector-$220-$220
Bryan LilesDirector-$200-$200
Demar SciutoDirector-$200-$200
Jay EwingDirector-$150-$150
Ted FordDirector-$150-$150
Raymond P LopezDirector-$125-$125
Morris L Sheats IiDirector-$50-$50

Board Members and Trustees

NameTitle
Edward P BassChairman Emeritus
Philip C WilliamsonChairman of the Board
Charlie GerenVice President
Scott KlebergVice President
Adam J WaldeckDirector
Becky Renfro BorbollaDirector
Bill MoblyDirector
Bill Poteet IiiDirector
Brad WhartonDirector
Breck RayDirector
Brian E LuigDirector
Carey W WilliamsDirector
Chris FarleyDirector
Chris QuinnDirector
Clay GilmerDirector
Clayton E MeltonDirector
Crawford EdwardsDirector
Dave AppletonDirector
David GallagherDirector
David McdavidDirector
Debra Johnson HeadDirector
Dee Kelly JrDirector
Doug CassidyDirector
Fln NeveDirector
G Martin PhillipsDirector
Gary GriffinDirector
George M Young JrDirector
Gerald H PerryDirector
Glenn BeckDirector
Gordon H RobertsDirector
Greg MorseDirector
Hal RayDirector
Howard PenaDirector
Hunter JohnsonDirector
J Bryan KingDirector
J C Pace IiiDirector
J D JohnsonDirector
J R Williams IiiDirector
J T AughinbaughDirector
J Tyler MorrisDirector
Jake RichterDirector
Jamie MorganDirector
Jason LesikarDirector
Jeffrey H ConnerDirector
John J HernandezDirector
John Michael FiererDirector
John P BoswellDirector
John T GavinDirector
Jon BrumleyDirector
Jonny BrumleyDirector
Kate JohnsonDirector
Kathleen CarterDirector
Kelly ThompsonDirector
Kimberly JohnsonDirector
Kit MoncriefDirector
Lance CarterDirector
Larry AnfinDirector
Lorene AgatherDirector
Louis E Martin IiiDirector
Lowell BoswellDirector
Madelon L BradshawDirector
Mark NurdinDirector
Mary Margaret SterlingDirector
Mary Ralph LoweDirector
Mason KingDirector
Michael D BornitzDirector
Michele HahnfeldDirector
Mike BerryDirector
Mike MoncriefDirector
Philip E NorwoodDirector
R Blair NormanDirector
Randy WatsonDirector
Rebecca Clegg EmergyDirector
Rob FeltonDirector
Robert H MerrillDirector
Robert L PattonDirector
Rodney WoodsonDirector
Rosario VillalpandoDirector
Ross Perot JrDirector
Roy J EatonDirector
Rozanne RosenthalDirector
Scott PrinceDirector
T Ross BaileyDirector
Thomas B ReynoldsDirector
Thomas B Saunders VDirector
Todd DavenportDirector
Tom FellerDirector
Trey GordonDirector
William C AndersonDirector
William D Ratliff IvDirector
Wilson D FranklinDirector
Wm David MooreDirector
Elaine B AgatherSecretary
Randy RodgersTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Lone Star ElectricElectrical Contractor2320 CULLEN ST, Fort Worth, TX 76107$178,687
Real Screen VideoPublic Relations4801 SOUTH BULLARD CHAPEL RD, Tishomingo, OK 73460$140,000
The R B Powers CoRibbons118 W HIGH ST, Ashley, OH 43003$106,858
Revenue and Support

Revenue Composition

Contributions and Grants
$7,548,099
Program Service Revenue
$24,454,002
Investment Income
$1,694,096
Other Revenue
$266,424
All Other Contributions
$7,484,549
Change in Net Assets
$-14,594,421

Audited Revenue Reconciliation

Revenue per Audited Statements
$33,900,820
Revenue Not Reported on Financial Statements
$61,801
Revenue Not Reported on Form 990
$1,304,342
Other Revenue Adjustments
$-161,856
Total Revenue per Audited Statements
$35,205,162
Total Revenue per Form 990
$33,962,621
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$39,111,097
Salaries, Compensation, and Employee Benefits$7,517,045
Grants and Similar Amounts Paid$1,928,900
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,208,853$565,699-$3,774,552
Current Officers, Directors, Trustees, and Key Employees$2,245,695$395,902-$2,641,597
Grants to Domestic Orgs$1,195,125--$1,195,125
Occupancy$644,246$187,386-$831,632
Grants to Domestic Individuals$733,775--$733,775
Pension Plan Contributions$450,536$79,426-$529,962
Payroll Taxes$366,962$64,693-$431,655
Advertising$323,963--$323,963
Insurance$242,097$60,524-$302,621
Fees for Service Investment Mgmnt Fees-$223,657-$223,657
Office Expenses$67,458$93,052-$160,510
Information Technology-$151,925-$151,925
Other Employee Benefits$118,405$20,874-$139,279
Depreciation Depletion$108,877$24,204-$133,081
Other Expenses$34,102$69,525-$103,627
Fees for Services Accounting-$84,387-$84,387
Travel$9,755$63,645-$73,400
Fees for Services Legal-$48,916-$48,916
Fees for Services Other$44,119--$44,119
Total Functional Expenses$46,423,227$2,133,815$0$48,557,042

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$48,557,042
Total Expenses per Audited Statements$48,514,461
Expenses per Audited Statements$48,495,241
Expenses Not Reported on Financial Statements$61,801
Expenses Not Reported on Form 990$19,220
Other Expense Adjustments$-161,856
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mustang ChampionsLago Vista, TX501(c)(3)Education$116,211
Careity FoundationFort Worth, TX501(c)(3)Education$63,000
Cook Childrens Medical CenterFort Worth, TX501(c)(3)Education$60,100
Fort Worth Museum of Science and HistoryFort Worth, TX501(c)(3)Education$50,000
National Cowgirl Museum & Hall of FameFort Worth, TX501(c)(3)Education$50,000
Junior League of Fort WorthFort Worth, TX501(c)(3)Education$27,360
National Multicultural Western Heritage MuseumFort Worth, TX501(c)(3)Education$10,000
Tarrant County Black Historic & Genealogical SocietyFort Worth, TX501(c)(3)Education$7,500
Texas Cowboy Hall of FameFort Worth, TX501(c)(3)Education$5,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$212,390
Fundraising Gross Income$201,769
Gaming Direct Expenses$139,842
Fundraising Direct Expenses$70,606
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Livestock Appreciation Day Luncheon$95,350$86,550$687$85,863
Shoot for Scholarships$72,210$67,460$4,240$63,220
Total Events$230,319$201,769$70,606$131,163
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Philip C WilliamsonContract Employee of Williamson-dickie Manufacturing Co. Director of Sw Ex.Williamson-dickie Manufacturing Co. Is a Major Sponsor of the Stock Show That Provides Sponsorship Revenue.No$302,537
Carey WilliamsExecutive Manager of James Wood Motors of Ntcd. Director of Sw Expo.North Texas Chevy Dealers (ntcd) Is a Major Sponsor of the Stock Show That Provides Sponsorship Revenue.No$285,000
J Bryan King and Mason KingPrincipals of Luther King Capital Management. Directors of Sw Expo.Luther King Capital Management Manages a Portion of the Stock Show Investments on a Standard Fee Basis.No$281,884
Julie Porter MayfieldEmployed by Agtrust Farm Credit. Director of Sw Expo.Agtrust Farm Credit Is a Major Sponsor of the Stock Show That Provides Sponsorship Revenue.No$202,914
Matthew CarterDirector of Agtrust Farm Credit and Sw Expo.Agtrust Farm Credit Is a Major Sponsor of the Stock Show That Provides Sponsorship Revenue.No$202,914
Edward P BassOwner of Sundance Square. Director of Sw Expo.Sundance Square Is a Sponsor of the Stock ShowNo$150,000
Mike BerryEmployed by Hillwood, a Perot Company. Director of Sw Expo.Hillwood Is a Sponsor of the Stock Show.No$122,289
Elaine Agather and J T AughinbaugBoth Elaine and J. T. Are Employed by Jpmorgan. Directors of Sw Expo.Jpmorgan Is a Major Sponsor of the Stock Show That Provides Sponsorship Revenue.No$100,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long Term Portion of Rent$3,211,005
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Bailey mcguire, demar sciuto and debra johnson head have a family relationship. John p. Boswell and lowell boswell have a family relationship. Jon brumley and jonny brumley have a family relationship. Kathleen carter and lance carter have a family relationship. Michael b. Harrison and chris harrison have a family relationship. Mary margaret richter and martin richter have a family relationship. Randy rodgers and crawford rodgers have a family relationship. Philip l. Schutts and sherman jones have a family relationship. Mark lansford and r. Mike lansford have a family relationship. William c. Anderson and william d. Ratliff iv have a family relationship. J. Bryan king and mason king have a family relationship. Kent lynch and kelly lynch have a family relationship. Elaine b. Agather and lorene agather have a family relationship. Kit moncrief and bradford s. Barnes have a family relationship. Kit moncrief and charlie geren have a family relationship. Kit moncrief and charlie royer iii have a family relationship. Trent prim and bradford s. Barnes have a family relationship. Charlie royer and amy myers have a family relationship. John p. Boswell, charlie geren, greg morse, and dee kelly jr. Have a business relationship. Matthew r. Carter and edward p. Bass have a business relationship. Mike berry and ross perot jr. Have a business relationship. Paxton motheral and charlie geren have a business relationship. J. Bryan king, mason king, and michael bornitz have a business relationship. J. Bryan king, mason king, randy rodgers, scott kleberg, and michael bornitz have a business relationship. Jamie morgan and randy watson have a business relationship. Theo thompson and gordon roberts have a business relationship.

Form 990, Part VI, Section A, Line 6

Members are chosen by a majority vote from a nominating committee and elected by a majority vote of the members. Members do not receive any compensation for serving in their capacity as a member and no part of the organization's earnings or assets shall ever inure to the benefit of the members.

Form 990, Part VI, Section A, Line 7A

The members elect the board of directors at an annual meeting each year.

Form 990, Part VI, Section B, Line 11B

The tax return is reviewed in detail and approved by the finance and audit committee, and prior to it being filed a copy is provided to all members of the executive committee which constitutes the governing body and has been delegated with the primary power of governance by the board of directors.

Form 990, Part VI, Section B, Line 12C

The executive committee meets once a year to determine if anyone or any transaction has violated the conflict of interest policy.

Form 990, Part VI, Section B, Line 15

The compensation committee, in recommending such compensation, and the executive committee, in approving such compensation, shall follow three steps. First, each committee shall meet in sessions composed entirely of individuals who do not have a conflict of interest with respect to the compensation arrangement. Second, each committee shall obtain and rely upon appropriate data as to comparability prior to making its determination. Third, each committee shall adequately document the basis for its determination concurrently with making its determination.

Form 990, Part VI, Section C, Line 19

All documents available upon request.

Filing and Contact Details

Filer

Filer Name
Southwestern Exposition
EIN
75-0575065
Phone
8178772400
Address
PO BOX 150, FORT WORTH, TX 76101
Doing Business As
Fort Worth Stock Show & Rodeo

Signing Officer

Name
Matthew R Carter
Title
President/general Manager
Phone
8178772400
Signed
2025-12-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew R Carter
Formed
1948
Legal Domicile
TX
Voting Board Members
147
Independent Board Members
136
Employees
767
Volunteers
1,800

Preparer

Firm
Whitley Penn Llp
Address
640 TAYLOR STREET SUITE 2200, FT WORTH, TX 76102
Preparer
Emily Landry
Phone
8172599100
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Effect of fasb statement no 158: fasb statement 158 requires the association to fully recognize the change in the funded position (the difference between the fair market value of plan assets and the benefit obligation) of its postretirement benefit plan in the balance sheet 776,890.

Form 990, Part XII, Line 2C

There has been no change in the process from prior years.

Financial Statement Notes

PART X, LINE 2:

The stock show is an organization exempt from federal income tax under section 501(c)(3) of the internal revenue code ("irc"), as an organization other than a private foundation. Therefore, no provision for federal income taxes is made in the accompanying financial statements. Tax positions are evaluated in a two-step process. The stock show first determines whether it is more likely than not that a tax position will be sustained upon examination. If a tax position meets the more likely than not threshold, it is then measured to determine the amount of expense to record in the financial statements. The tax position is measured as the largest amount of expense that is greater than 50 percent likely to be realized upon settlement. The stock show classifies any potential accrued interest recognized on an underpayment of income taxes and any statutory penalties recognized on a tax position taken as other non-interest expense. The stock show did not incur any penalties or interest during the years ended march 31, 2025 and 2024. Management of the stock show has not taken a tax position that, if challenged, would be expected to have a material effect on the financial statements at march 31, 2025 and 2024. The stock show files form 990 in the federal jurisdiction within the united states. No tax returns are currently under examination by any tax authorities.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Effect of fasb statement no 158: fasb statement 158 requires the stock show to fully recognize the change in the funded position (the difference between the fair value of plan assets and the benefit obligation) of its postretirement benefit plan in the balance sheet 776,890. Cost of merchandise sold 19,220.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Raffle expenses -161,856.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of merchandise sold 19,220.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Raffle expenses -161,856.

Raw XML AppendixShowing 400 of 2,051 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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